> Assuming your figures are correct, $11bn in annual revenue allows for a much higher valuation than $17bn. [...] > So if we want to use the average P/E ratio

> Assuming your figures are correct, $11bn in annual revenue allows for a much higher valuation than $17bn. [...] > So if we want to use the average P/E ratio, we can say that a very very very rough price for the entire Taxi/Limo market is $150bn. P/E is price/earnings ratio, it's not calculated using revenue. Earnings is revenue less expenses. So if the taxi industry in general is operating at a 10% profit margin, that would mean they're earning $1.1bn per year, and with a P/E of 15, that would be a $16.5bn market cap.